Chapter 5

Question 1

Ordinary Care

Answer 1

the legal duty imposed upon bailees which requires them to take the same care of the goods of others as would be taken by a prudent and diligent owner of such goods

Question 2

Bailee for Hire

Answer 2

is one who has temporary custody of the personal property of another for a purpose other than sale who is compensated as a condition of such custody

Question 3

Common Carrier

Answer 3

Includes airlines, railroads, trucking companies and others that furnish transportation to any member of the public seeking their services.

Question 4

Standard (Ordinary)

Answer 4

Bill of lading used to reflect the amount for which the bill of lading common carrier will be held legally liable under the tariff

Question 5

Valued bill of lading

Answer 5

Serves the increase carrier’s liability- normally requested by the owner of goods when their value exceeds the value stated in the Standard Bill of Lading

Question 6

Release bill of lading

Answer 6

bill of lading used to release a carrier from any liability for the goods being transported

Question 7

Contract Carrier

Answer 7

one that carries, for pay, the goods of certain customers only as contrasted to a common carrier the goods of the public in general

Question 8

Private Carrier

Answer 8

ones who haul their own goods or goods entrusted to them as bailees or lessees and includes shippers who own or lease their vehicles and carry their own goods.

Question 9

Catastrophe limit

Answer 9

the maximum amount an Insurer will pay in only one disaster or occurrence